Remaining Payouts - Money Transfers via Payload.co (EFT), Checks, Record Payment, Create Bill

The Remaining Payouts screen provides you with one place to process payouts on deals that have closed. After deals are approved, they will be visible in the Remaining Payouts screen. Here, you can select one or more deals and process any remaining payouts. Whether recording payments, sending commissions via an electronic funds transfer or printing checks, you can process one or more payouts in just a few clicks! 

In this guide, we'll go over how to process payments in via the following methods:

Be sure to take a look at our tips and best practices for payment processing!

 

Confirm Payments Received

Before you begin processing payouts, be sure to confirm payments have been received from title or escrow! Click here to learn how to do that in bulk.

 

Money Transfers

  1. In the left menu, navigate to Deals.
  2. Then, navigate to Remaining Payouts.
  3. Select the payments you want to process.
    Important: For batch processing, you can only select payments that will be processed via the same payment method. For this example, only select EFT payments.
  4. After selecting the payments, select Money Transfers from the blue options bar at the bottom.
  5. Next, you will select the payment method and the payment date
    At the bottom of this screen, there is a toggle switch to Combine Payments. With this option turned on, multiple payments for one individual will be combined into a single payment, totaling the sum of all individual payments.
  6. When you are ready to process the payment, click Save & Proceed.
  7. Once the payments have been processed, they will remain on the screen with a green checkmark until the page is refreshed. 

 

Record Payment

  1. In the left menu, navigate to Deals.
  2. Then, navigate to Remaining Payouts.
  3. Select the payments you want to process.
    Important: For batch processing, you can only select payments that will be processed via the same payment method. For this example, only select the ones you'd like to record a payment that's already been made.
  4. After selecting the payments, select Record Payment from the blue options bar at the bottom.
  5. Next, you will need to provide some details about the payment that was processed outside of SkySlope Books:
    - Payment Date
    - Payment Mode
    - Paid Through (Account used for payment)
  6. At the bottom of this screen, there is a toggle switch to Combine Payments. With this option turned on, multiple payments for one individual will be combined into a single payment, totaling the sum of all individual payments.
  7. When you are ready to process the payment, click Save & Proceed.
  8. Once the payments have been processed, they will remain on the screen with a green checkmark until the page is refreshed. 

 

Create Bill

  1. In the left menu, navigate to Deals.
  2. Then, navigate to Remaining Payouts.
  3. Select the payments you want to process.
    Important: For batch processing, you can only select payments that will be processed via the same payment method. For this example, only select the payments you'd like to create bills for and pay at a later date.
  4. After selecting the payments, select Create Bill from the blue options bar at the bottom.
  5. Next, review the details of the payment to ensure they're correct. Then click Save & Proceed to create the bill.
  6. Once the bill is created, a quick link will be generated next to the remaining payout, allowing you to access the bill for that payout easily. You can click on that link to manage the bill.
    Any bills will stay on the Remaining Payouts page until they are paid.

 

Create Check

Create Checks:

  1. In the left menu, navigate to Deals.
  2. Then, navigate to Remaining Payouts.
  3. Select the payments you want to process.
    Important: For batch processing, you can only select payments that will be processed via the same payment method. For this example, only select the payments you'd like to create bills for and pay at a later date.
  4. After selecting the payments, select Create Checks.
  5. In the next window, you will select the account that will be used to process the selected payments.
  6. At the bottom of this screen, there is a toggle switch to Combine Payments. With this option turned on, multiple payments for one individual will be combined into a single payment, totaling the sum of all individual payments.
  7. Click Save & Proceed.
  8. Once you've done that, each payment will be converted into a bill that can be accessed under Payments Made.

Print Checks:

Once you've created the checks from the Remaining Payouts page, the checks are ready to be printed. We recommend first printing a test check before printing a larger batch to ensure they're printing correctly!

On the Payments Made page, there are three statuses that apply to check payments:

- Not Printed: Checks that are ready to print.

- Uncleared: Printed checks that have not been reconciled in SkySlope Books. If you don't reconcile in SkySlope books, checks will remain Uncleared indefinitely.

- Cleared: Printed checks that have been reconciled in SkySlope Books (which is not required).

  1. Navigate to the Purchases section and then to Payments Made. Any checks that are ready to be printed will have a Not Printed status. Use the Status drop-down to filter by status and easily locate any pending check payments.
  2. Select the checks you are ready to print. 
  3. Click Print Checks.
  4. In the next window, you will be able to preview the checks and make any necessary adjustments.
    Use the horizontal and vertical shifts to make any necessary adjustments to how the text prints on your checks.
  5. Click Print. (Don't worry, they're not being sent to the printer just yet.)
  6. In the Print Preview window, you can select the print destination. Once you're ready, click Print! (Now they're actually being sent to the printer.)
  7. After the checks have been printed, you will enter the number of the first check in the batch. Then click Next.
  8. After that, we will automatically number the following checks sequentially for you! If you need to change one of the check numbers, you can do so on this screen.
    Additionally, if a check didn't print correctly, select No to return it to the queue to be re-printed.
  9. Click Save.
  10. Now, those checks will be removed from the Not Printed list.

 

Tips & Best Practices

  • Approve Disbursement
    • Before you can process payouts, you must first navigate to the Edit Deal page and Approve Disbursement.
  • Receive Funds
    • Before you can process payouts, you must first confirm payments for this deal have been received. To do this, open your deal. Then, navigate to Payouts and then to the Closings section. From there, click Confirm Payment Received. 
  • Agents must have bank information set up
    • To process payments via Money Transfers, payment recipients must have their bank account information entered into SkySlope Books. This something that they can do themselves, or the admins can do so from the Contacts page.
  • Combine Payments
    • Whenever you are processing more than one payment for an individual, you will have the option to Combine Payments. For example, if Agent Amy has two remaining payouts (one for $25,000 and one for $40,000), you can opt to combine them into one individual payout (totaling $65,000).
  • Working Page
    • The Remaining Payouts page is a "working page", meaning it is constantly updating. After certain types of payments have been processed, the payment(s) will remain on the list of remaining payouts with a green checkmark. This green checkmark means they've already been processed. Once you refresh or leave the page, these payouts will no longer be on the list.

Updated

Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request

Comments

0 comments

Article is closed for comments.